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Brexit – The latest hiring trends and updates
After Brexit, it’s safe to say businesses and the general public were filled with fear for the future of the economy and the jobs market.

Over the summer, research by Adzuna showed advertised vacancies did in fact fall by 31,000, but the number of jobseekers per vacancy stayed consistent. This may seem a dramatic drop, but the news reveals no major fluctuations despite the Brexit uncertainty. In fact, compared to six months ago, hiring in general saw an increase of 0.6%.

Job industries thriving

According to The Telegraph, there were 8,285 new finance jobs on the market last month, a rise of 5% over the previous month. August’s monthly hiring levels were also above average at 7,900, showing businesses remain confident regardless of the referendum result.

Workers who moved to a new job in August typically saw a 16% pay rise, similar to the pay rises seen the same time last year at 17%.

Sky News also reported growth in the consultancy sector with advertised vacancies up 5% each month, a 10% increase over this time last year. Another interesting point to note – consultancy salaries have increased by 8.9%.
To add to the seeming demand and confidence in the job sector post-Brexit, there are ever more sectors showing a boost in yearly salaries. Including: Maintenance – up by 12.1%, Property – up by 7.9%, PR – up by 4%, and IT – up by 2%.

According to the latest figures from the Office for National Statistics (ONS), although the number of advertised vacancies fell, employment rate reached its highest level since records began in 1971.

Trends in online jobs

A recent report from The Association of Professional Staffing Companies (APSCO), showed permanent hiring has slowed down, however, temporary and contract employment has risen. The UK has undoubtedly seen a trend in self-employment as many workers seek for alternative sources of income.
Not all recruiting boards witnessed a fall, with niche language job board Multilingual Vacancies reporting a steady increase in advertised jobs requiring German speakers during June compared to last year, with Dutch not far behind.
The highest increases for both the amount of advertised jobs and applications submitted were in the legal sector at 37.5%, catering at 32.8%, and education at 32%.

A recent Path Motion survey found, a massive 95% of employers consider having access to the EU graduate pool is vital to the success of their business.

The jobs market certainly isn’t as dire as some financiers state. Many business owners across the country hold the stance ‘it’s business as usual’, and this attitude is clearly evident through the facts and statistics made known to the public. It’s impossible to tell exactly how Brexit will affect the jobs market as the current situation is far from mature. But the current details tell a very positive and encouraging story for the future of the UK hiring sector.

It’s been over two months since the British public voted to leave the EU. The country has been awash with uncertainty, but one thing’s for sure, our decision to leave will change the state of the economy and British society well into the future.

We have now entered into a complex web of negotiating our place in the world, and the British Government has started their journey to unpick and process the various paths possible in life outside the EU.

But what do we now know about the effects of our decision to break free from the union?

Changes to the economy

After the pound took a steep nose dive on June 24th, many believed it was the start of another financial crisis. However, share prices have now recovered and the FTSE 100 is even trading higher than before the referendum.

Retail sales figures for July are up on the same period last year, and the Bank of England have announced their own measures to stimulate economic growth by cutting interest rates from 0.5% to 0.25%.

Although the pound is still down around 13%, a lower pound makes exports more competitive – a potential advantage to further encourage economic growth across the country.

Jobs in Britain

The UK government has not guaranteed or given much insight into the status of EU nationals living in Britain. Those who have permanent residence – a status granted after living in the UK for five years – will have a right to live and work in the country.

However, for other EU citizens in Britain, a reciprocal arrangement would need to be agreed between the EU and the UK. Considering the volume of British nationals living and working in the other 27 member states, it would make complete sense for the EU and the UK to come to an agreement benefitting both sides.

In response to Britain’s decision to leave, the Recruitment & Employment Confederation’s Chief Executive Kevin Green said: “We need to ensure that British businesses continue to be able to get the people they need to fill the jobs available. Access to talent is absolutely vital to sustainable economic growth and prosperity. In sectors such as healthcare, education, hospitality, construction and manufacturing, workers from the EU are vital and any change to our immigration system needs to recognise that.”

In addition, Mariano Mamertino, an economist at indeed said: “UK employers have benefitted from the ability to recruit talent from overseas, and many Britons have seized the opportunity to live and work in other EU countries.

While it’s unlikely that the shutters will suddenly be brought down on the English Channel, the free movement of workers has clear economic benefits – and it’s essential that British businesses can continue to be able to get the people they need to fill the jobs available.”

The state of immigration

Prime Minister, Theresa May, says she is committed to bring net migration down to a sustainable level. That’s the difference between the numbers leaving and entering the UK, which currently stands at 333,000 a year. Theresa May defines a sustainable level at below 100,000, and part of the negotiations will be to discuss how these details could be feasible.

What we don’t know yet

We still don’t know exactly when we will be leaving the EU. The Prime Minister has announced Article 50 will not be triggered this year, but there is currently a High Court case in process to argue who in fact has the right to invoke Article 50.

We will not know what impact Brexit will have on immigration until ONS data is released in February 2017.

It is still uncertain as to whether there will be a Brexit recession, as these figures will not be available until late October. The Bank of England doesn’t think a recession is likely, but there were already signs that the UK economy was slowing down before the referendum.

It’s clear the UK Government will continue to negotiate our relationship with the EU for many months to come. Any changes will be gradual and it is extremely unlikely that any EU nationals will be sent home.

EU nationals are protected by certain legal rights and will continue to enjoy those rights unless both parties agree to terminate the predefined agreements. As many UK nationals live and work in the rest of the EU, it is highly likely we would want to maintain that positive trading relationship with the union and show our support for EU nationals in Britain.

The Brexit debate brought great uncertainty to the UK, especially for European nationals living and working across the country. As three million European citizens eagerly await a decision about their future, it’s certainly not all doom and gloom.

Members of Britain in Europe thinktank called upon Theresa May to show that EU nationals are an integral part of society, and their contributions are valued. The Government has responded and wants to reassure foreign nationals that their legal state will be properly protected.
With regards to immigration as a whole, Brexit and the UK’s democratically elected representatives are more involved with having control over who enters the UK in the future, rather than removing those who already live here.

So how exactly does this affect you?

The legal stuff
Under Article 70 of the Vienna Convention on the Law of Treaties 1969, EU migrants currently living in the UK have certain ‘acquired rights.’
This means that under international law, the rights EU citizens had before Brexit can still be enjoyed afterwards. This is a legally binding privilege and can only be taken away if all parties agree to terminate the rights.

It is extremely unlikely that both the EU and the UK would want to terminate these rights considering the amount of UK expats living in the EU and vice versa.
There are currently two million UK residents living in the 27 other EU member states, all with specific rights to live and work with access to pensions, public services and health care. This is a requirement under EU law. Logically we would be looking to maintain these rights, and this agreement would have to be reciprocated for EU citizens living in the UK. Good news for current EU citizens!

As it stands, the UK is still part of the EU and will remain so until Article 50 is triggered. We are currently in negotiations with other member states and a conclusion could take two years or more. Brexit Day isn’t expected to happen before the beginning of 2019. That means EU citizens living in the UK will enjoy the same rights they always have until then.

How can you protect your right to live and work in the UK?
If you’re still concerned about how Brexit will affect your future in the UK, you can apply for a British passport and essentially become a British citizen.

To be eligible, you need to have lived in the UK for at least five years. You also need to have spent no more than 450 days outside the UK during that time, or more than 90 days in the last year. Normally you need to have already been granted permanent residence – something that can be obtained after living in the country for more than five years.

And lastly, you need to pass the citizenship test, have some knowledge of English and no serious criminal offences.

If you are an EU citizen living and working in the UK, it’s understandable to be concerned at such an uncertain time. However, you are still protected for at least two years and even the future outlook is likely to be favourable considering our past and current ties to the EU.

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